A recent discovery at a nearby project has led Cazaly Resources Limited (ASX: CAZ) to have another look at its Mount Venn project in Western Australia.
Since Cazaly gained access to its Mount Venn project in early 2017 the focus has been on exploring the gold potential in the central part of the Mount Venn greenstone belt, but has received approaches from other parties since Great Boulder Resources Limited announced the discovery of copper-nickel-cobalt mineralisation at its Yamarna project in the same region.
Cazaly said it is now reviewing the potential of the several untested geochemical Ni – Cu anomalies located within Mount Venn project. It said the highly prospective base metal targets have been significantly underexplored.
Cazaly’s Mount Venn project is located ~ 125 km northeast of Laverton, 40 km west of Gold Road Resources Ltd ’s Gruyere gold deposit (148 Mt @ 1.30 g/t Au for 6.16M oz) and approximately 3km north of GBR’s Mount Venn Cu – Ni – Co discovery in the Eastern Goldfields region.
Cazaly controls almost the entire M oun t Cummings Mafic – Ultramafic Complex which has had minimal exploration for nickel/copper/cobalt to date. Whilst Cazaly has focussed on the gold potential of the belt to date, a recent desk top review of historic work at Mount Cummings has highlighted several areas of interest, including:
- Mount Warren PGE anomaly: an ~2km long, 3 – 11m wide gently dipping stratigraphic horizon with anomalous PGE’s (Platinum Group Elements) located near a gabbro /pyroxenite contact as defined by soils and rock chips
- Mount Cornell PGE anomaly: a ~2km long, very gently dipping PGE anomaly define d by soil geochemistry also associated with a gabbro proximal to the gabbro/pyroxenite contact, and
- Several untested geochemical Ni – Cu anomalies located within the basal portion of komatiitic basalts
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The belt is associated with the regionally significant Yamarna Shear Zone complex and has many similarities with the Dorothy Hills greenstone belt which hosts Gruyere. The belt also hosts the Mount Venn Mafic – Ultramafic Complex in the south and the Mount Cummings Mafic – Ultramafic Complex in the north.
GBR have reported initial results from drilling at its Mount Venn Cu – Ni – Co project which comprises a 5km long trend within which GBR has identified several EM anomalies within the Mount Venn Mafic – Ultramafic Complex. The initial drilling revealed the presence of wide zones of primary copper sulphide dominant mineralisation with assays up to 4.3% Cu and 0.1% Co.